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STUBBS v. SECURITY CONSUMER DISCOUNT COMPANY

171 N.J. Super. 67 (1979)

407 A.2d 1269

GUSSIE LEE STUBBS, FLORENCE STEVENSON AND FANNIE M. DOSS, ON BEHALF OF THEMSELVES AND ALL OTHERS SIMILARLY SITUATED, PLAINTIFFS-APPELLANTS, v. SECURITY CONSUMER DISCOUNT COMPANY, KENBEE MORTGAGE COMPANY, LEONARD MOONBLATT AND FIDELITY BANK, DEFENDANTS-RESPONDENTS AND CROSS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided November 7, 1979.

Attorney(s) appearing for the Case

Mr. Kenneth E. Meiser, Assistant Deputy Public Advocate, for appellants (Mr. Stanley C. Van Ness, Public Advocate, attorney; Mr. Carl S. Bisgaier and Ms. Linda R. Hurd, Assistant Deputy Public Advocates, on the brief).

Mr. George F. Kugler, Jr. for respondents and cross-appellants (Messrs. Archer, Greiner and Read, attorneys; Mr. Robert G. Harbeson and Robert T. Egan on the brief).

Before Judges MATTHEWS, ARD and POLOW.

BY THE COURT.

Plaintiffs, purporting to act on behalf of 162 secondary mortgage borrowers as a class, appeal from the trial court decision rejecting their demand that the subject mortgages be declared void and unenforceable under the Secondary Mortgage Loan Act, N.J.S.A. 17:11A-34 et seq. Defendants cross-appeal from the award of a 15% credit on the original principal of all mortgages not fully satisfied...

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